EconomyEU and China agree to manage differences, reach understanding on rare earths and EVs

The EU and China agreed on measures to manage trade tensions, including a joint statement calling for an “understanding” on hybrid-vehicle trade and a commitment to facilitate rare earth exports. EU trade chief Maros Sefcovic is in Beijing seeking significant progress on rebalancing trade before an October deadline he set. China says it will keep facilitating EU rare earth export licence approvals and continue talks on tariff cuts.